LONDON - Geiger Counter Limited has disclosed the recent buyback of 60,000 of its ordinary shares, a transaction that took place on Thursday. The shares were acquired at an average price of 52.43 pence each and are now held in Treasury. This latest buyback is part of an ongoing program following the firm's Annual General Meeting on March 9, 2023. Since that date, Geiger Counter has repurchased a total of 11,689,543 ordinary shares.
The company's total issued share capital with voting rights now stands at 140,979,804 ordinary shares, excluding the 11,694,445 ordinary shares held in Treasury. These treasury shares do not carry voting rights, and their buyback is a common practice among companies seeking to reduce the number of shares in circulation, potentially increasing the value of remaining shares.
This share repurchase activity is part of Geiger Counter's capital management strategy and indicates the company's position in managing its share capital. Share buybacks can often reflect a company's belief that its shares are undervalued and represent a good investment for the future. However, such financial maneuvers also attract scrutiny, as they can impact the market perception of a company's value and its stock performance.
The London Stock Exchange (LON:LSEG)'s news service RNS, approved by the Financial Conduct Authority in the UK, provided this information. It is important to note that the details in this article are based on a press release statement and do not represent any financial advice or endorsement of the company's actions or potential market performance.
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